Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 16.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 366,490 shares of the technology company’s stock after acquiring an additional 51,692 shares during the period. Federated Hermes Inc. owned 0.23% of Veeva Systems worth $77,055,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at $25,000. Smithfield Trust Co grew its holdings in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Veeva Systems during the 4th quarter worth about $31,000. Finally, Avion Wealth raised its holdings in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Down 3.6 %

VEEV stock opened at $213.59 on Monday. The stock has a market cap of $34.75 billion, a price-to-earnings ratio of 52.74, a PEG ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The business has a 50 day moving average price of $231.73 and a 200 day moving average price of $223.12.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VEEV. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and dropped their target price for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Truist Financial upped their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research note on Thursday, March 6th. Scotiabank boosted their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Finally, StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $256.52.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.